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PartyGaming IPO Is On Track;
Price Range Is Expected to Hold

By

David Reilly Staff Reporter of The Wall Street Journal

Updated June 21, 2005 2:03 p.m. ET

The order book for the initial public offering of online poker-site operator PartyGaming PLC is now covered, and the company expects the indicated price range of 111 pence to 127 pence a share to hold, according to a person familiar with the matter.

It isn't clear at what end of that price range investors have placed orders for the IPO, which could value the company at between &pound;4.4 billion to &pound;5.1 billion ($8 billion to $9.3 billion). Existing shareholders are planning to sell about 22% of the company,...